Grade A office rents hold steady in Q1

Advanced Search

The story appears on

Page A11

April 13, 2018

GET this page in PDF

Free for subscribers

View shopping cart

Grade A office rents hold steady in Q1

By Cao Qian | 00:01 UTC+8 April 13, 2018 |

Print Edition

Grade A office rents remained steady in Shanghai’s core CBD markets in the first quarter of 2018 despite a large supply, latest data released by global property advisors showed.

The average rents at Grade A buildings in the CBD managed to hold flat, or were up 0.2 percent quarter on quarter, after six projects with a total gross floor area of 375,140 square meters — including One Museum Place in Puxi and Lujiazui Finance Plaza in Pudong New Area — were completed between January and March, JLL said in a quarterly report released yesterday.

“Domestic financial services companies, especially those in the asset management sector, continued to be a major demand driver in the local Grade A office market,” said Danial Yao, head of research for JLL East China. “Notably, robust demand from co-working operators — including both well-known players and newcomers — has been giving an additional boost to landlords.”

In Shanghai’s Grade A office market, about 150,000 square meters of net absorption, a measure of change in total demand, were contributed by co-working operators in 2017, taking up 13 percent of the city’s total. They are estimated to grow further to 180,000 square meters this year, according to JLL’s forecast.

Real Estate

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Grade A office rents hold steady in Q1

Email this to your friend